The third annual meeting of the Clinton Global Initiative convened in New York, US, from 26-28 September 2007.
Participants made 245 commitments to take specific action related to the four focus areas: education, energy and climate change, global health, and poverty alleviation. Among the commitments are: US$ 150 million funded by the Geothermal Power Company of Iceland to help countries in the African Rift Valley to develop their geothermal energy resources; Swiss Re will offer its expertise and a dedicated team of specialists to develop, structure, price and implement innovative financial risk transfer solutions, such as weather index insurance, that support adaptation to the consequences of climate change in low-income countries; and IUCN-World Conservation Union, the Swiss government, Mava Foundation and Holcim will work together in a US$ 36.2 million three year program to build an environmentally friendly new headquarters for the World Conservation Union on Lake Geneva, Switzerland. Swiss Re reports that the first phase of its Climate Adaptation Development Programme (CADP) will aim to provide financial protection against drought conditions for up to 400,000 people in Africa. In related news, Swiss Re has also announced that, together with the Earth Institute at Columbia University and the Millennium Promise Alliance, it has provided weather derivative contracts protecting several villages in Kenya, Mali and Ethiopia against severe drought.
Links to further information
Clinton Global Initiative News Release, 28 September 2007
Swiss Re News Release, 27 September 2007
Swiss Re News Release, 6 September 2007